Lewiston, ME—04240
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Lewiston, ME
As of Oct '25, the median home price in Lewiston, ME is $291,000, with a year-over-year change of 1.2%. This indicates that home prices in Lewiston, ME are increasing. According to Zillow, the 1-year price projection is 3.2%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $291,000 | 1.2% |
| Single Family | $292,000 | 1.7% |
| Condos | $260,000 | 1.6% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $258,000 | 2.0% |
3 Bed | $299,000 | 1.4% |
4 Bed | $331,000 | 1.5% |
| 5 Bed | $369,000 | 1.9% |
% of Housing Stock
Rental Trends — Lewiston, ME
As of July '25, Rentcast reports the average rent in Lewiston, ME is $1,560, with a year-over-year rent change of -4.3%. Per bedroom, the median rent as of July '25 in Lewiston, ME is studios: $988, 1-bedrooms: $1,170, 2-bedrooms: $1,550, 3-bedrooms: $1,790, 4-bedrooms: $2,120. The most common rental property sizes in Lewiston, ME are 2-bedroom and 1-bedroom, accounting for 44.3% and 27.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,500 | $1,560 |
| Studio Rent | $975 | $988 |
| 1 Bed Rent | $1,150 | $1,170 |
| 2 Bed Rent | $1,500 | $1,550 |
| 3 Bed Rent | $1,700 | $1,790 |
| 4 Bed Rent | $1,950 | $2,120 |
% of Rental Stock
Property Listings — Lewiston, ME
As of Oct '25, Realtor.com reports that the median days on market for a home in Lewiston, ME is 31. This is a increase of 19.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 55.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $369,000 | 16.0% |
Listing Count | 62 | 44.0% |
| Listings as % of Homes | 0.1% | 44.0% |
Days on Market | 31 | 19.0% |
Demographics — Lewiston, ME
As of the latest ACS Survey released in 2023, Lewiston, ME has a population of 37,900, which has increased by 5.0% over the past 5 years. Lewiston, ME is a moderately popular place for families, as children make up 21.6% of the population. The area has a poorly educated workforce, with 21.7% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 11.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 37,900 | 5.0% |
% Under 18 | 21.6% | 13.7% |
% Seniors | 18.2% | 0.0% |
% WFH | 11.2% | 194.7% |
% w/ College Degree | 21.7% | 17.3% |
As of the latest ACS Survey released in 2023, Lewiston, ME is a predominantly white area, with 80.1% of the population identifying as white. The white population has shrunk by 7.0% in the last 5 years. The second most common race or ethnicity in Lewiston, ME is black, making up 11.0% of the population. Foreign-born residents account for 9.7% of the population in Lewiston, ME, and this percentage has increased by 59.0% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 80.1% | -7.0% |
% Black | 11.0% | 111.5% |
% Hispanic | 3.0% | 30.4% |
% Asian | 1.7% | 54.5% |
% Foreign Born | 9.7% | 59.0% |
Mortgage and Risk — Lewiston, ME
According to HUD data as of 2023, there were 501 mortgage originations in Lewiston, ME, of which 66.0% of loans were conventional mortgages. The average loan-to-value was 73.0%, with 36.0% above 90% LTV (very high). This implies large mortgage risk in Lewiston, ME. Investor activity is low, as 7.0% of loans were by investors. 15.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 501 |
% Conventional Loans | 66.0% |
% Government Loans | 34.0% |
% Investor Loans | 7.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 15.0% |
Loan Activity
Rentals and Section 8 — Lewiston, ME
As of 2024, the percent of homes in Lewiston, ME under the Section 8 program is 26.3%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Lewiston, ME, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.
Section 8 Market Size
Total Units under HUD | 2,665 |
Total Units Section 8 | 2,071 |
% Rentals under Section 8 | 26.3% |
% Occupied Section 8 | 75.4% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$170 | $1,150 | $980 |
| 2 Bedroom | -$250 | $1,500 | $1,250 |
| 3 Bedroom | -$60 | $1,700 | $1,640 |
| 4 Bedroom | -$130 | $1,950 | $1,820 |
Affordability — Lewiston, ME
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.3 |
| Median Home Price | $291,000 |
| Median Household Income | $56,600 |